Written by Christopher Liew, CFA at The Motley Fool Canada
Prior to the Bank of Canada’s rate cut announcement on June 5, 2024, many Canadian stocks had been outperforming. But with an improved market environment, expect WELL Health Technologies (TSX:WELL), Payfare (TSX:PAY), and Baytex Energy (TSX:BTE) to break out. The three growth stocks are poised to deliver abundant returns by 2025.
Screaming buy
WELL Health is a screaming buy since reporting impressive financial performance for Q1 2024. The $1 billion digital healthcare company is practitioner-focused and provides omnichannel patient services, including electronic medical records (EMR). It is the largest owner and operator of outpatient clinics in Canada.
In the three months ended March 31, 2024, revenue rose 37% year over year to $231.6 million, while net income reached $15.1 million compared to the $14.4 million net loss in Q1 2023. Both results are new…
